From 2006 to 2010 China’s rare earth reserve decreased by 37% and structural conflict between heavy and light rare earth materials has occurred, which accelerated consumption on rare earth resources.
China is still the largest country in rare earth reserve, rare earth production, rare earth export and rare earth consumption. In 2010 China produced 118.9 thousand tons of rare earth products with total industry output value of 6.05 billion USD and total sales value of 6.02 billion USD. China has been exporting rare earth material at low price to satisfy 90% of global rare earth market, as a result, China’s rare earth reserve dropped drastically. By the end of 2005, proved rare earth reserve in China was 87.31 million tons and this number dropped to 55 million tons by the end of 2010
The structural conflict between heavy and light rare earth materials will become fierce. By 2015 the rare earth refining industry outside China can satisfy global demand on light rare earth but it can only satisfy 50% global demand on heavy rare earth, which means the other 50% will come from China. So far there are around 200 rare earth projects ready for exploitation around the world and there could be just 3-5 projects put into use by 2020 due to reasons including environment, capital, technology and sales etc.
2017
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